Supply Concerns Sugar Prices Economics Commentary

Supply Concerns slit equipment casualtys By LESLIE JOSEPHS Tradition entirelyy volatile title commodities, whose prices are in high spiritsly sensitive to adverse weather, ware soared this style on lower production and shrinking stockpiles. Farmers sit on a heap of scrapingcane outside a profits lollygag in north India. Sugar prices rose 6.6% for the week. Sugar-supply concerns, particularly on bad weather in Australia and possibly lower-than-expected exports from no(prenominal) 2 manufacturer India, alike have driven up prices. On Friday, U.S. Sugar Corp. express below-freezing temperatures this month in Florida earnestly damaged its scratchcane crop. Were predicting twain the loss of tonnage and abrasion yields, tell Judy Sanchez, spokeswoman for the Clewiston, Fla.-based grower and central processor of cacography. The exact loss has not yet been determined, Ms. Sanchez added. World sugar prices gained 4.8% on Friday, closing at a quintet te-week high of 32.5 cents a pound. They are up 12% this week. World and U.S. domestic sugar prices dont converge because the U.S. limits sugar imports. U.S. sugar futures were trading around five cents higher(prenominal)(prenominal) than global bench mark prices. This is a very controlled market, said Jack Scoville, a vice president at Price Futures sort out, regarding the domestic sugar market. ruffianly weather and low stocks have pushed commodities prices, including grains, higher this year. The longer-term trend is for higher food prices, which could reach learn levels by the end of the year, the depict together Nations Food and market-gardening Organization said Friday. Almost all commodities are in a strict supply-demand situation, and so we would carry to see high production in all commodities, which is unlikely, said Abdolreza Abbassian, secretary of the FAOs Intergovernmental Group on Foodgrains. Many markets could face make up higher and more v olatile prices ahead, he said. While tight ! supplies raise coffee and sugar prices this week, speculative buying is also fantasy to have had a strong hand in...If you emergency to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper